There are 87 live games on British TV this week. Too much of a good thing? | Sean Ingle

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The situation has been triggered by the UFC triggering an exit clause on its exclusive deal with Eleven Sports, which was due to begin in January, after Eleven Sports was unable to secure promised distribution via pay-TV platforms including Sky, Virgin Media and BT.

Eleven Sports is aiming to renegotiate its sports rights deals at a much cheaper rate to try to continue to operate a much smaller, commercially viable operation in the UK.

“Without carriage agreements with the existing platforms, alongside the challenges posed by rampant piracy, the current market dynamics in the UK & Ireland are very hostile for new entrants,” said a spokesman for Eleven Sports. “We are in discussion with our rights partners, La Liga and IMG, about how we can restructure our existing agreements in order to continue our current OTT [streaming] service.”

UFC, the increasingly popular mixed martial arts competition, is understood to be back in talks with the previous rights holder BT about a new broadcast deal.

Eleven Sports is preparing to hand back the TV rights to Serie A to IMG, which acts as agent, which would allow them to be resold. The streaming service secured the rights to Serie A in July in a three-year deal, ending BT’s six year association with Italy’s top league.

Eleven Sports has attracted only about 50,000 subscriptions since its UK launch in August, according to the Telegraph which broke the news of the streaming service’s difficulties. Eleven Sports charges £5.99 a month.

The rival sports streaming service Dazn, which is owned by the Warner Music owner and Spotify investor Len Blavatnik, has said it will not launch in the UK because the market is too competitive. Dazn is live in seven countries and will be live in 20 markets by 2022.

European investigators entered the offices of IMG and MP & Silva on 10 April as part of a series of raids timed simultaneously including at the 21st Century Fox subsidiary Fox Networks Group, which is based in west London, and Ziggo Sport, the Dutch subsidiary owned by Vodafone and Virgin Media parent Liberty Global.